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Regime: Mixed — VIX at 18.43 signals ongoing unease, but rising US yields underpin USD strength, offsetting risk aversion. Today’s market themes: USD dominance: Rising US yields and safe-haven demand continue to buoy the Dollar across the board. Inflation watch: Canadian CPI data offers key test for BoC rate-cut expectations. Positioning…
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Where we are: The Dollar index is holding firm around 119.30, consolidating gains after the recent surge fueled by geopolitical tensions and rising US yields. Overnight, the DXY saw a narrow range, oscillating between 119.15 and 119.45. This level sits well above Friday’s close, underpinned by persistent safe-haven demand and a…
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Where we are: S&P 500 futures are trading slightly lower, around 5295, as the European session progresses. The index is consolidating after last week’s rally to record highs, trading within a tight overnight range of 5288-5302. Resistance sits at the all-time high of 5325, with initial support around 5270, a level…
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Where we are: Gold is currently trading near $4,545, slightly below yesterday’s close, after a choppy overnight session. Bullion has given back some of yesterday’s gains as rising real yields continue to weigh. The metal is struggling to break above resistance at $4,560, with immediate support around $4,530. What’s driving it:…
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Where we are: EUR/USD is currently trading near 1.1630, struggling to hold above one-month lows after dipping to 1.1625 overnight. The pair remains capped below its prior NY close around 1.1640, with bearish momentum prevailing after yesterday’s risk-off move. Immediate resistance lies at 1.1650, with support around 1.1610. What’s driving it:…
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Where we are: Nasdaq 100 futures are trading around 19,350, down roughly 0.6% pre-market, continuing the slide from yesterday’s close. The index is testing the lower end of its recent range, as higher yields and ongoing concerns about the sustainability of the AI-driven rally weigh on sentiment. This level is notably…
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Where we are: GBP/USD is currently trading around 1.2485, consolidating losses from the overnight session. The pair traded in a tight range overnight, failing to break above 1.2510 resistance. The price sits well below the prior NY close of 1.2520, reflecting the ongoing bearish sentiment. What’s driving it: Sterling remains on…
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Where we are: USD/JPY is currently trading around 159.15, pushing towards fresh multi-decade highs. The pair has broken above the overnight high of 159.00 and is well above Friday’s New York close, as the relentless dollar bid continues. The next major level to watch is the psychological 160.00 mark, a level…
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Where we are: Dow futures are currently trading around 39,950, slightly lower on the session. We’ve seen a choppy overnight session, with a range between 39,900 and 40,020. This level sits below Friday’s New York close, indicating some initial weakness heading into the cash open. Key support remains around 39,800, a…
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Where we are: USDCAD trades near 1.3725, consolidating gains after an overnight push higher. The pair traded in a tight overnight range of 1.3700-1.3730. This level is above Friday’s NY close, reflecting the underlying bid driven by rising US yields. Resistance is eyed near the recent high of 1.3750, with support…
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Where we are: BTCUSD is currently trading around $66,800, slightly weaker after an overnight range that saw highs near $67,500. The price sits below Friday’s NY close as risk sentiment has softened. We’re watching for a potential test of support near $66,000. What’s driving it: The primary pressure stems from emerging…
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Where we are: The FTSE 100 is trading around 8,395 in early London trade, consolidating gains made in the previous session. The index is holding above its 50-day moving average and is within striking distance of recent highs. The overnight range has been relatively tight as traders await fresh catalysts from…
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Snapshot: AUD/USD is struggling near three-week lows as the RBA’s May meeting minutes reinforced a cautious stance. The minutes highlighted the Board’s assessment of cumulative rate hikes and external uncertainties, suggesting a pause is increasingly likely. Attention now turns to US Pending Home Sales at 10:00 ET. Watch for a break…
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Snapshot: WTI crude futures are pulling back after yesterday’s gains, with news of potential US-Iran negotiations weighing on sentiment. The retracement comes despite a moderately long speculator positioning in WTI, with net non-commercial holdings at +169,877 contracts. Watch for volatility around the 10:00 ET Pending Home Sales release. Initial support lies…
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Snapshot: The Nikkei 225 struggled overnight, last seen down 0.44% near 60,550, even after Japan’s Q1 GDP exceeded expectations. Stronger economic growth has seemingly been offset by lingering Middle East tensions. Watch for follow-through selling if the Nikkei breaks below 60,000, a key psychological level. Rising US real yields and a…
